Globalstar signs USD 30 mln share sale facility

Wednesday 2 January 2013 | 13:11 CET | News

Satellite mobile voice and data services provider Globalstar has secured a facility to sell USD 30 million of shares to Terrapin Opportunity over two-years. The period begins when an upcoming SEC filing becomes effective. Globalstar will set the timing, price and amount of the future draws. Globalstar is in final preparations for its fourth launch of six new satellites in February. The agreement gives it flexibility to manage the potential dilution of additional equity. The deal with Terrapin does not preclude Globalstar from other equity and debt financing operations.

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